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Microcap & Penny Stocks : GRNO Research Site--Green Oasis Environmental -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (18)	4/28/1998 9:04:00 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 40

GRNO has announced MANOVA, a Turkish firm has entered into a tentative agreement to place at least 3 $2.5 million EnviroEconomics Waste Oil Processors in Turkey. This agreement is contingent on the success of Manova to affect accomodations in Turkey's strict energy laws. The Turkish gov't has authority over all new processes involving energy production/recycling. The understanding is that the Turkish gov't is strongly supportive of creating a waste oil collection and processing infrastructure. However, the legislative process can be lengthy as indicated by MANOVA's efforts for the past 12 months in pursuing these changes. MANOVA has made two visitations to Charleston and GRNO's CEO has made a reciprocal visit to Turkey in pursuit of this agreement. SOURCE: Green Oasis Environmental, Inc. Green Oasis Environmental, Inc. and MANOVA A.S., Sign Agreement CHARLESTON, S.C., April 28 /PRNewswire/ --- Green Oasis Environmental, Inc. (OTC: GRNO - news) announced today signing an Equipment Purchase Agreement with MANOVA A.S. Istanbul, Turkey which included a refundable deposit toward the purchase of a Model 1000 plant to be located in Istanbul. MANOVA S.A. states ''We have secured the Support of the Ministry of Environment and the Ministry of Petroleum toward a law pending in the Turkish Parliament to exempt waste oil recycling from taxes, and will do our utmost to conclude the law process in the shortest possible time.'' The Agreement is dependent on the approval of the law pending in the Turkish Parliament and Green Oasis will not begin plant construction until the law is passed. The Agreement calls for the possible installation of up to three Model 1000 plants over a period of 48 months. Each plant is $2.5 million US plus installation. Green Oasis will have the opportunity to acquire a minority ownership position in the operating company which MANOVA A.S. has projected an annual gross profit of $4.8 million US per plant based on current economic conditions in Turkey and assuming passage of the waste oil inducement law. Green Oasis has agreed to provide a portion of the equipment financing at 8% interest amortized over ten years, price protection on future plant purchases till 2001, and on site support for 120 days following installation and start-up on the model 1000 plant. W.D. Carraway, President stated ''We believe this agreement combined with Turkey's central location will present additional opportunities for the technology in both Europe and Asia, and is the foundation for a long term relationship with MANOVA.'' Green Oasis' patent-pending process is designed to produce marketable fuels from waste oils in a closed cycle, one step process. The Company manufactures equipment for its own use as well as markets worldwide. SOURCE: Green Oasis Environmental, Inc. More Quotes and News: GRNO - news Related News Categories: environmental Regards, Ron